Transaction Recovery Fund

wirenut1110

Any contractors in VA. get a bill from the Board For Contractors to replenish the Contractor Transaction Recovery Fund?

This is the first one I've seen in 10 years so I'm thinking it may be a sign of the times, even though it's only $20, still another fee.

Unscrupulous contractors must be on the rise and depleting the fund.

tinner666

They want $40.00 from me. Spent time with them on the phone yesterday. I may cancel 1 license and modify the other.

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Frank Slate Roof Repairs, Richmond, Va.

dubz

In Connecticut, $100 of the $160 yearly home improvement contractor registration fee goes towards a fund like that.

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http://brianwilsonconstruction.net

SelfContract

When the lemon has no more juice... everyone tries to squeeze... till the last drop.

Ellisjack

How much is the renewal fee for a contractor's license in Virginia?

jazzbone

Got the same thing yesterday, mine was 20.00 as well
So we have to put in money to cover contractors going out of business and not completing work am I correct ?
Thats kind of like bailing out homeowners that can't make their mortgage ?
Or bailing out a car manufacture thats to big to go out of business
More icing on the cake, I don't know about you guys but I've had about enough

wirenut1110

This is an excerpt from DPOR's website.

The Virginia Contractor Transaction Recovery Act became effective July 1, 1980. The Act provides relief to consumers who have incurred losses through the improper and dishonest conduct of a licensed contractor. The Recovery Fund is supported entirely by assessments paid by licensed contractors, not by any tax revenues. Filing a claim does not guarantee payment.

It's not just contractors going out of business. I think most of it is people quoting jobs for a low price knowing damn well they can't do it for that so they do sh**ty work or bail out.

tinner666

$140. for a C. I cancelled mine todaysince it was BLD, and Added HIC to my B, and o ly pd $20. for recovery. I'm supposed to get a refund of my last renewal.

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Frank Slate Roof Repairs, Richmond, Va.

Mike(VA)

Haven't got my bill yet. Maybe all you guys will replentish the fund before I have to pay.

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I EXPECT THAT SOMEDAY I WILL SEE THE FRUITS OF MY LABOR. IS IT SOMEDAY YET?
Clifton, Great Falls, McLean, Fairfax Station, Manassas, Virginia Renovation Contractor

RCPainting

Utah has a Lien Recovery Fund, 200 a year. We also have an on line Construction Registry Program you must use to protect your lein rights.
You have to go to a seminar as part of your License requirement.
Last seminar I was at they told us the biggest claimant to the fund in the state was a large chain lumber store!

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Cedar City, Utah Painting Company
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